OK Zimbabwe plans to reopen its Entumbane branch in Bulawayo, one of five branches it closed earlier this year due to a challenging trading environment that led to stock shortages during the third quarter ending December 31, 2024.
At the time, OK Zimbabwe, which operates nearly 70 branches nationwide, reported that product availability had dropped to about 50% of normal stock levels.
Margaret Munyuru, the group’s company secretary, told a Parliamentary Portfolio Committee on Industry and Commerce, which recently visited the Entumbane shopping complex, that with the support of the Bulawayo City Council, the company is reversing its decision to close the branch.
Munyuru also said the branch will no longer operate as a retail outlet but will be converted into a wholesale operation. She said:
<blockquote>
The last time we met, we referenced the closure of a supermarket in the Bulawayo Matabeleland region, OK Entumbane, and I’m very happy to say that we have reversed that decision with the support of Bulawayo City Council.
We are now converting the supermarket into a wholesale facility.
We have received confirmation that they will support us with the wholesale licence so that we can transform our operations from a traditional supermarket into a wholesale facility that operates at a lower cost than the ordinary supermarket that we traditionally do.
</blockquote>
The Parliamentary Committee on Industry and Commerce, currently touring the country to assess business conditions and engage directly with retailers to understand their challenges, visited OK Zimbabwe’s outlets in Harare on Tuesday. Said Manyuru:
<blockquote>
We have already started restocking. A few weeks ago, even a month and a half ago, you would have noticed that even Mazoe was missing from the shelves. The shelves are now filling up.
</blockquote>
Edington Virimayi from Makhandeni B said that after OK Zimbabwe closed its Entumbane branch, residents were forced to travel to town for shopping and other services that the branch had previously provided. He said:
<blockquote>
The closure of OK affected the community, we used to collect money here from our relatives abroad since the shop had World Remi, Mukuru, and other money transfer services, but now we are forced to go to town.
Even buying groceries, OK used to offer better prices compared to other shops here in the suburbs, the supermarket accepted both US dollars and ZiG, which made it easy for us, so the closure made our lives expensive.
We also used to pay our bills, like buying licenses, electricity, and other things here, it’s now difficult for us, so we appeal to the company to reconsider their decision.
</blockquote>
OK Zimbabwe recently closed five branches namely; Robson Manyika (Harare), Glen Norah (Harare), Kuwadzana Express (Harare), Mbare (Harare) and Chitungwiza Town Centre (Chitungwiza).
More: <a href="https://www.herald.co.zw/ok-zim-reverses-byo-branch-closure-decision/">The Herald</a>

Pindula News

OK Zimbabwe closed their Entumbane branch in Bulawayo but now they plan to reopen it. The branch will become a wholesale store instead of a supermarket. This decision was made with the support of the Bulawayo City Council. OK Zimbabwe also closed other branches due to stock shortages. People in the community are happy about the decision to reopen the Entumbane branch because they can buy groceries and use money transfer services there. The company is also restocking their shelves in other branches.

OK Zimbabwe Reverses Closure Of Entumbane Branch In Bulawayo

Residents of Norton have expressed concerns about plans by Sunny Yi Feng, one of the largest tile manufacturers in Southern Africa, to build a 210MW thermal power station in their area.
Earlier this month, the Zimbabwe Energy Regulatory Authority (ZERA) announced that Sunny Yi Feng had applied to install a 20MW solar plant at its factory.
However, the company needs more power than the solar plant can provide, which is why it plans to build a much larger 210MW thermal power station. This plan has faced opposition from local residents.
Sunny Yi Feng produces over 35,000 square metres of tiles and 40,000 pieces of kitchenware daily, serving both local and international markets.
To address Zimbabwe’s unreliable power supply, the company wants to generate its own electricity.
However, Sunny Yi Feng’s proposal has faced resistance in other areas as well, such as its plan to mine coal in the Sinamatella area of Hwange National Park. Zimbabwe’s Parks and Wildlife Management Authority has opposed the mining proposal.
A report by a consultant hired by Sunny Yi Feng found that Norton residents are concerned about the environmental impact, especially air pollution from burning coal.
They worry that emissions could lead to respiratory diseases, cancer, and other health issues. There’s also concern that pollution could affect nearby water bodies, including Lake Chivero and Darwendale Dam.
Sunny Yi Feng, through its energy arm Sunny Jin Long Energy, insists that it has the technology to manage these risks.
The company plans to use emission control systems, and dust filters, and repurpose fly ash from coal as a material for making cement.
Despite these assurances, local residents are questioning why the company is opting for coal instead of renewable energy sources.
Sunny Yi Feng says it doesn’t have enough space for a large solar plant because generating 210MW from solar would need around 1,000 hectares, but the company only has 29 hectares available.
The company also claims that hydropower isn’t a viable option due to a lack of water in the area. They argue that coal-fired power is a more reliable option because it can provide continuous power, unlike solar and wind, which depend on weather conditions.
More: <a href="https://newzwire.live/green-vs-black-after-hwange-norton-residents-resist-tile-giants-coal-power-plant/">newZWire</a>

Residents in Norton are worried about a big company building a coal power plant in their area. The company, Sunny Yi Feng, wants to make its own electricity because there are power shortages in Zimbabwe. But people are concerned about pollution from burning coal and how it can harm their health and water. The company says they have ways to control pollution, but residents wonder why they don't use renewable energy like solar instead of coal. Sunny Yi Feng says they don't have enough space for solar or water for hydropower, so coal is the best option for reliable power.

Norton Residents Resist Sunny Yi Feng's 210MW Coal Power Plant Plans

DStv’s South African customers will face a price hike as MultiChoice announces its annual price and product adjustments for DStv and Showmax.
In a statement released to the media, MultiChoice CEO Byron du Plessis said that the company considered the financial strain on households, though some products will remain unchanged. Du Plessis said:
<blockquote>
Recognising the financial pressures faced by South African households, MultiChoice has implemented considered adjustments, focusing on enhancing value across its packages, with certain products receiving no increase including all DStv Stream packages, Box Office movies and Showmax Entertainment with the ADD Movies premium movie bolt on being reduced to just R49pm, a 38% price reduction.
</blockquote>
The price increases are as follows:
<ul>
<li data-end="177" data-start="0">DStv Premium: up R50 (5.3%), from R929 to R979.</li>
<li data-end="272" data-start="215">DStv Compact Plus: up R40 (6.4%), from R619 to R659</li>
<li data-end="325" data-start="273">DStv Compact: up R10 (2.1%), from R469 to R479</li>
<li data-end="378" data-start="326">DStv Family: up R10 (3.03%), from R329 to R339</li>
<li data-end="430" data-start="379">DStv Access: up R11 (7.9%), from R139 to R150</li>
<li data-end="482" data-start="431">DStv EasyView: up R1 (3.44%), from R29 to R30</li>
<li data-end="511" data-start="483">DStv Stream: unchanged</li>
<li data-end="552" data-start="512">Showmax: no change, remains at R99</li>
<li data-end="594" data-start="553">Showmax PL: up R30, from R69 to R99</li>
<li data-end="653" data-start="595">Showmax Entertainment Mobile: up R5, from R45 to R50</li>
</ul>
MultiChoice also warned that due to a proposed VAT increase by Minister of Finance Enoch Godongwana, prices may need to be adjusted further to reflect the higher VAT rate, effective May 1.

DStv in South Africa will cost more. Some packages will go up in price, like DStv Premium. Others, like DStv Stream, will stay the same. Showmax will also have some price changes. The company says it wants to give good value for money. The prices will go up in 2025. The government might also raise VAT, which could make prices go up even more.

DStv South Africa Announces Price Hikes For 2025

The Zimbabwe Mining and Smelting Company (ZIMASCO) has been placed under corporate rescue after businessman Shepherd Tundiya filed papers claiming the company owes over US$77 million to creditors.
Tundiya claims that ZIMASCO failed to honor a 2017 agreement with his company Avim, to source coke peas from South Mining in Hwange. Tundiya told the court:
<blockquote>
Had ZIMASCO not breached the agreement, Avim would have delivered 288,000 tonnes of coke peas at US$270 per tonne between August 2, 2017, and August 1, 2023.
</blockquote>
Tundiya claims Avim incurred damages of US$17.3 million from August 2017 to February 2019, and US$50.2 million from March 2019 to August 2023.
Court documents indicate ZIMASCO owes US$77 million, including debts to suppliers, ZIMRA, ZESA, and employees.
Tundiya argued that corporate rescue, not liquidation, was needed due to ZIMASCO’s refusal to settle debts.
The court appointed Wilson Manase as the corporate rescue practitioner, placing ZIMASCO under administration to prevent creditor lawsuits.
Tundiya proposed that ZIMASCO, owned by China’s Sinosteel, be handed to new investors. He said:
<blockquote>
I am aware that there are potential investors targeting chrome mining due to the spike in demand. Investors with equity financing can be brought on board.
</blockquote>
ZIMASCO’s corporate rescue comes as the company seeks to expand, with plans for new furnaces and a 100MW solar plant in Kwekwe.
It commissioned a new furnace in December 2023 and plans to redevelop its mining assets on the Great Dyke.
Despite producing 70,000 tonnes of ferrochrome annually, ZIMASCO has faced furnace shutdowns due to volatile ferrochrome prices and high power costs.
More: <a href="https://newzwire.live/zimasco-placed-under-corporate-rescue-over-us77m-debts-controversial-businessman-says-it-needs-new-owners/">newZWire</a>

ZIMASCO, a mining company in Zimbabwe, owes a lot of money to creditors, about US$77 million. A businessman named Shepherd Tundiya is the one who filed papers saying this. Tundiya claims that ZIMASCO did not keep an agreement to buy something from his company Avim. Now, a court has put ZIMASCO under administration to stop creditors from suing. Tundiya thinks new investors should take over ZIMASCO. The company wants to grow, but it has had problems with prices and costs in the past. This all happened as ZIMASCO is trying to expand and do better.

ZIMASCO Placed Under Corporate Rescue Over US$77 Million Debts

The Zimbabwe Revenue Authority (ZIMRA) recently shut down Unity Village Flea Market in Bulawayo as part of a nationwide crackdown on smuggled goods and counterfeit products.
Located in the city centre, Unity Village is one of the busiest markets, home to numerous traders selling a wide range of items, including clothing, footwear, mobile phones, accessories, and kitchenware.
In an interview with Zimpapers Business Hub, Unity Village’s head of security, Gilter Manasidze, confirmed that shops selling clothing, kitchenware, phones, and phone accessories had been closed.
However, ZIMRA said that vendors offering phone repair and other services were not targeted in the operation. Said Masanidze:
<blockquote>
They are targeting those who are not paying duty, especially those who deal with clothing, mobile phones, and accessories. However, those who repair phones do not seem to be affected.
They have instructed us to compile all the stock and submit it to them so they can calculate how much duty is owed.
</blockquote>
ZIMRA has escalated its nationwide crackdown on smuggling syndicates and tax evasion, aiming to bolster government revenue as the tax base continues to shrink due to the ongoing closure of businesses.
More: <a href="https://www.chronicle.co.zw/zimra-shuts-down-unity-village-flea-market-in-bulawayo-amid-nationwide-crackdown-on-smuggled-goods/">Chronicle</a>

ZIMRA, a tax authority in Zimbabwe, closed Unity Village Flea Market in Bulawayo. The market was shut down to stop the selling of illegal goods. Clothing, phones, and kitchenware were among the items being sold. Vendors who repair phones were not affected. ZIMRA wants to collect duty on the goods being sold. The tax authority is trying to reduce smuggling and tax evasion to increase government revenue. Businesses closing down has caused a decrease in tax income.

ZIMRA Shuts Down Unity Village Flea Market In Bulawayo

Harare Mayor, Councillor Jacob Mafume, says businesses operating in partitioned shops, masquerading as shopping malls to avoid paying individual shop licences, will now be required to pay separate business licences.
Mayor Mafume clarified that true shopping malls, such as Sam Levy’s Village and Westgate Mall, are large commercial complexes with unified ownership structures and shared facilities, distinguishing them from businesses operating in partitioned spaces in the Central Business District. He said:
<blockquote>
The issue of what they call malls, frankly speaking, does not fit the definition of what we understand as malls, either locally or internationally.
Someone just partitions their shop, names it after their grandmother, and suddenly claims it’s a mall.
When you subdivide your shop and put in multiple smaller shops within it, you have not necessarily created a mall.
You have simply created several businesses that should be paying licences to the city as individual shops.
The idea of calling it a mall is simply an attempt to evade paying for each business. There is no common ownership; various tenants are operating separately, and they must be licensed accordingly.
In the old days, we used to have a one-size-fits-all licence. A supermarket and a small shop would pay the same fee.
But in the new budget, we have created clusters based on floor size. Each shop must now pay a fee that matches its actual business space.
</blockquote>
Mafume said these unregulated malls on city planning and cleanliness, saying the mushrooming of partitioned shops has led to increased litter, pollution, and congestion in commercial areas.
More: <a href="https://www.herald.co.zw/harare-targets-malls-in-shop-licence-blitz/">The Herald</a>

Harare Mayor wants to stop fake shopping malls in the city. Some shops pretend to be malls to avoid paying fees. Real malls have one owner and shared spaces. People are just splitting their shops and calling it a mall to avoid paying. Now, each shop will need to pay its own license. The Mayor says this will help with city planning and cleanliness. Fake malls create more trash, pollution, and crowded areas. This new rule will make sure each business pays the right fee based on its size.

Harare Cracks Down On Partitioned Buildings Passing As Shopping Malls In CBD

ZANU PF MP Raj Modi, through his retail chain Sai Mart, has successfully acquired all former Choppies Zimbabwe outlets across the country and is currently undertaking a rebranding exercise.
The Botswana-headquartered Choppies chain entered the Zimbabwean market in 2013 by acquiring several Spar shops and expanding its presence in 2014 with a distribution centre in the country.
Choppies operated 30 grocery stores nationwide under its subsidiary, Nanavac (Pty) Ltd, trading as Choppies Zimbabwe. However, the retailer recently exited the Zimbabwean market, citing a strategic decision to focus on sustainable growth and profitability across its regional operations.
In an interview with the Chronicle, Modi, who is also the Deputy Minister of Industry and Commerce, said that all former Choppies outlets have been restocked and are now part of the Sai Mart chain. He said:
<blockquote>
We acquired all the Choppies outlets, not only in Bulawayo but nationwide. We bought everything from Choppies and retained all the workers, about 1 100 and something.
We have already started rebranding; we began with the ones in downtown and those in the suburbs. As soon as we finish here in Bulawayo, we will move on to Gweru, then Gokwe, Mutare and finally Harare.
</blockquote>
Modi said that by the end of last year, Choppies had cleared its stock. He added that all the outlets have now been restocked.
More: <a href="https://www.chronicle.co.zw/modi-takes-over-choppies-outlets-retains-all-1-100-workers/">Chronicle</a>

Sai Mart, owned by ZANU PF MP Raj Modi, has bought all former Choppies stores in Zimbabwe and is rebranding them. Choppies entered Zimbabwe in 2013 but recently left to focus on other regions. Modi kept all workers and restocked the stores. The rebranding started in Bulawayo and will continue in other cities. Modi said they finished restocking by the end of last year. Now, all former Choppies stores are part of Sai Mart chain.

Sai Mart Takes Over All Former Choppies Zimbabwe Stores

Proplastics Limited has announced the resignation of its Chief Executive Officer, Kudakwashe Leo Chigiya, effective 19 February 2025.
Chigiya began his career at Proplastics in 1993 as a Graduate Trainee in Plastics Technology. Over the years, he progressed through various roles, including Quality Controller, Quality Assurance Manager, and Technical Manager, playing a key role in several pioneering manufacturing projects.
In 2003, Chigiya left Proplastics to further his career in Plastics Technology in South Africa. He returned to the company as Chief Executive Officer on 29 May 2015. In a statement, Proplastics said:
<blockquote>
The Board of Directors of Proplastics Limited wishes to announce the resignation of the Chief Executive Officer, Mr Kudakwashe Leo Chigiya, with effect from 19 February 2025.
Kudakwashe has served the Company with dedication and commitment, and the Board expresses its sincere gratitude for his invaluable contributions to the Company’s growth and success.
</blockquote>
Finance Director Paschal Changunda has been appointed Acting Chief Executive Officer, effective 19 February 2025, until a permanent successor is identified.
Chigiya’s resignation is part of a broader trend of executive changes within the Zimbabwean corporate sector, with other listed companies such as OK Zimbabwe, EcoCash, and Econet Zimbabwe also experiencing leadership transitions in recent weeks.

The CEO of a company called Proplastics, Kudakwashe Chigiya, has resigned from his job after working there for many years. He started at the company in 1993 and has held many different positions before becoming the CEO in 2015. The company thanked him for his hard work and dedication. A new person, Paschal Changunda, will be the Acting CEO until they find someone permanent. Other companies in Zimbabwe have also been having changes in their leadership recently.

Proplastics CEO Kudakwashe Chigiya Resigns

Econet Wireless Zimbabwe Limited has announced the departure of Chief Operating Officer, Kezito Makuni, after 16 years of service.
Makuni, who has extensive experience in the telecommunications industry, voluntarily decided to leave the company, with his official last day being 28 February 2025. A notice from Econet read:
<blockquote>
Econet Wireless Zimbabwe Limited announces the voluntary exit from the business of its Chief Operating Officer, Mr Kezito Makuni, with effect from 28th February 2025, to pursue other interests outside the company.
Mr Makuni, who has been with Econet Wireless Zimbabwe for sixteen years, played a key role in helping the business achieve significant milestones in its growth and digital transformation journey over the years.
</blockquote>
The Econet Group has seen several leadership changes recently.
EcoCash Holdings (which owns Steward Bank) underwent a major reshuffle, with eight directors resigning after Tawanda Nyambirai acquired a majority stake and was appointed as Group CEO.
Meanwhile, Cassava Technologies made key leadership changes, including appointing an AI Officer and rearranging some of its long-serving employees.
Last year, as part of a broader restructuring effort, the Econet Group offered voluntary exit packages to employees.

Econet Wireless Zimbabwe's Chief Operating Officer, Kezito Makuni, is leaving the company after 16 years. He chose to leave on his own and his last day is on 28th February 2025. The company thanked him for helping them grow and change digitally. The Econet Group has had other changes in leadership recently, like EcoCash Holdings and Cassava Technologies. They also offered employees voluntary exit packages last year as part of restructuring.

Econet Wireless COO Kezito Makuni Steps Down After 16 Years

The City of Harare has warned against illegal structures springing up across the city and vowed to demolish unauthorised developments.
The rise of informal businesses has led to an increase in new constructions and the conversion of old buildings into retail spaces.
Large commercial properties are being repurposed into shopping malls with subdivided units for multiple operators.
While this has proven profitable for property owners, concerns about the legality of these developments are growing, with some lacking approval from city authorities.
Harare City Council spokesperson Stanley Gama told <a href="https://businesstimes.co.zw/council-threatens-to-demolish-shopping-malls/">Business Times</a> that the municipality will take action against illegal structures and unlicensed operators. Said Gama:
<blockquote>
New malls or structures have to be approved and licensed by the City of Harare. Illegal structures will be demolished, while those operating without licences will have their businesses closed down. We don’t tolerate lawlessness.
</blockquote>
If the City of Harare follows through with its warnings, several newly established malls in the Central Business District may face demolition.
City regulations require that any change in business use comply with Section 26 of the Regional, Town, and Country Planning Act (Chapter 29:12 of 1996), which mandates prior approval from the relevant authorities.
An urban planning expert, who declined to be named, told Business Times, that the current increase in mall construction has largely been unregulated, with some developments not meeting the minimum operational standards required by law. Said the expert:
<blockquote>
There is an uncontrolled influx of retail spaces, and some of these structures obstruct pedestrian movement. The city was not designed to accommodate this level of commercial activity in such a disorganized manner.
</blockquote>

The City of Harare is warning against unauthorized shopping malls popping up everywhere. These malls are being built without permission from the city, and this is causing problems. The City Council says they will destroy these malls and shut down businesses without licenses. They want all new developments to be approved and licensed. If they go through with this, many new malls in the city may be destroyed. The city has rules for building new businesses, and they must be followed. Experts say the rapid increase in malls is not good for the city and is causing chaos.

Harare City Council Vows To Demolish Unapproved Shopping Malls

The month-on-month inflation rate in ZWG (ZiG) terms fell to 0.5% in February 2025, from 10.5% in January 2025, the Zimbabwe National Statistics Agency (ZIMSTAT) reported Wednesday.
This means that prices as measured by the all items ZWG CPI, increased by an average of 0.5% from January 2025 to February 2025. Said ZIMSTAT:
<blockquote>
The ZWG month-on-month Food and Non-Alcoholic Beverages inflation rate was 0.8 percent in February 2025, shedding 6.0 percentage points on the January 2025 rate of 6.8 percent while the month-on-month non-food inflation rate was 0.3 % shedding 4.3% on the January 2025 rate of 4.6%.
</blockquote>
ZIMSTAT reported that the USD month-on-month inflation rate for February 2025 was 0.2%, a significant decrease from 11.5% in January. This indicates that, on average, prices increased by 0.2% from January to February 2025, as measured by the all-items index.
For Food and Non-Alcoholic Beverages, the month-on-month inflation rate was also 0.2% in February, down from 16.8% in January. Similarly, the non-food inflation rate for February was 0.2%, a decrease from 9.1% in January.
In terms of year-on-year inflation, the USD Consumer Price Index (CPI) rose slightly from 14.6% in January to 15.1% in February 2025.

In Zimbabwe, prices only went up a little bit from January to February. Food prices went up less compared to January. Overall, prices went up slightly for both food and non-food items. The prices increased by 0.5% in February, which is a lot less than January. This is good news for the people in Zimbabwe.

Zimbabwe's Month-on-Month Inflation Plummets From 10.5% To 0.5%

OK Zimbabwe Limited has dismissed its senior executives and brought back former managers to guide the company through a major business review and restructuring.
Willard Zireva, who retired in 2017, has returned, along with Alex Siyavora, who led the company until 2021. They will lead OK Zimbabwe temporarily during this period of change.
This follows the recent closure of four OK Zimbabwe stores and ongoing stock shortages, highlighting struggles in the retail sector.
The company announced these changes in a statement dated February 26, 2025, from Company Secretary Margaret Munyuru.
The executives who have left the company include CEO Maxen Phillip Karombo, CFO Phillimon Mushosho, and Supply Chain Director Knox Mupaya.
The new leadership appointments are: CEO Willard Vimbai Zireva, CFO Alex Edgar Siyavora, and Supply Chain Director Muzvidzwa Richard Chingaira. Added Munyuru:
<blockquote>
The Board would like to acknowledge the outgoing Executive team for their service through this challenging period and to welcome back the team reposed with the remit to stabilise and turn the business around over the next six months whilst the Company engages in the process to identify the executive replacements.
</blockquote>

OK Zimbabwe has fired top bosses and brought back former managers to help fix the company. The retail sector is struggling and some stores have closed. The new leaders are Willard Zireva, Alex Siyavora, and Muzvidzwa Chingaira. They will work to stabilize the business in the next six months. The old CEO, CFO, and Supply Chain Director have left. The company hopes the changes will help them improve and find new executives in the future.

OK Zimbabwe Sacks Senior Executives

Police in Harare are investigating the production of Mauya drink in Waterfalls to assess whether the manufacturing process complies with the country’s relevant laws and regulations.
Earlier this week, police raided the company’s premises in response to allegations of producing illicit alcoholic beverages. However, it was later revealed that the company was manufacturing a ginger-based drink.
<img alt="Image" decoding="async" src="https://pbs.twimg.com/media/GkpabKJXkAA3ner?format=jpg&amp;name=4096x4096"/>
The discovery of thousands of these beverages at the premises has led police to expand their investigation.
National police spokesperson Commissioner Paul Nyathi, speaking to <a href="https://www.herald.co.zw/police-crackdown-on-local-companies/">The Herald</a> after visiting the site on Tuesday, February 25, raised concerns about the operations of some businesses, particularly regarding public safety, health, and security. He said:
<blockquote>
The Zimbabwe Republic Police is concerned with the way some companies are operating, especially with regards to the safety, health, and security of the public.
As you can see, this is another raid by the Zimbabwe Republic Police, where we have established that this company was operating and, in the process, manufacturing a product— whether it’s a beverage, alcoholic or non-alcoholic — without clarity on its contents.
</blockquote>
<img alt="Image" decoding="async" src="https://pbs.twimg.com/media/GkpabLcW8AAeOdI?format=jpg&amp;name=4096x4096"/>
Nyathi said that the company does not have the necessary license to produce the beverage in question and that the product has not been certified by the Medicines Control Authority of Zimbabwe (MCAZ). He said:
<blockquote>
Above all, they have no licence to produce this product. This product has also not been certified fit for sale or supply to the public by the Medicines Control Authority of Zimbabwe, especially considering some of the medicinal qualities being claimed on the labels. These claims have not been substantiated.
Then you also have the issue of food standards, where you find that some of the conditions under which this purported beverage is being manufactured are not safe for any product intended for public consumption.
As the police, we want to urge business people and companies that, in whatever they are doing, they must, first and foremost, consider the laws of the country. Secondly, they must prioritise the safety of the public.
Thirdly, they must ensure that all processes they undertake fully comply with Government regulations.
</blockquote>
Nyathi further revealed that several suspects had been taken into custody in connection with the case as investigations continue.

Police in Harare raided a company called Mauya Drink Brewery to check if they were following the law. They found out the company was making a ginger-based drink, not illegal alcohol. But they also discovered the company didn't have the right license to make the drink. The police are worried about public safety and health. They are investigating further and have arrested some people. The company must follow all laws and regulations when making products for the public.

Police Raid Mauya Drink Brewery

Emmanuel Fundira, the National Social Security Authority (NSSA) chairman, and former Rainbow Tourism Group (RTG) executive Paula January are accused of plotting to devalue RTG’s shares to buy them at a lower price.
As reported by <a href="https://thenewshawks.com/nssa-chairman-embroiled-in-underhand-rtg-takeover-bid/">The NewsHawks</a>, NSSA, which holds a 91.6% stake in RTG, plans to sell 56% of its shares, and Fundira is believed to be creating negative market sentiment to drive down the stock price.
Fundira, also involved in hospitality through African Sun and other ventures, is said to be in conflict due to his interests in both Nssa and RTG.
Despite an agreement not to engage in hospitality affairs, he is allegedly influencing events at RTG to support his personal interests.
The Zimbabwe Anti-Corruption Commission (ZACC) has launched an investigation into RTG’s executives, focusing on payments in salaries, gratuities, allowances and bonuses, and the agency has issued a warrant to seize documents.
RTG denies any wrongdoing, claiming the investigation is politically motivated.
Fundira, appointed NSSA chairman in 2023, is accused of manipulating the situation to lower RTG’s share price, allowing him and his allies to purchase shares at a discounted rate.
He is also accused of leaking information to Paula January, which she allegedly passed on to ZACC to settle personal scores.
ZACC investigators have reportedly kept Paula January informed about their probe, including sending her updates via WhatsApp during meetings with RTG board members.
However, Fundira denied the allegations when speaking to The NewsHawks, saying he has no working relationship with Paula January and dismissing claims of manipulating RTG’s share price for personal gain. He said:
<blockquote>
The true position is that I do not have any working relationship with so-called Paula January (whoever she is) nor do I have access to RTG financial information in as much as RTG is a subsidiary of NSSA of which I am a NED (non-executive director) and chairman.
It is however common cause that RTG have a reporting line to the executive at NSSA as a subsidiary and that as a public-listed entity they have their own board chaired by Mr Douglas Hoto.
</blockquote>
Paula January also denied knowing Fundira and claimed that the audio leaks, which allegedly showed frequent contact between them, were doctored. She said:
<blockquote>
Unfortunately, I don’t do voice notes after my past experiences with RTG. We are living in the times of technology and things can be doctored.
I moved on with my life and I have been here in Malawi for four years. I actually wish RTG well and by the way, who is Fundira and what does he do at RTG?
</blockquote>
In response to The NewsHawks‘ questions, RTG acknowledged the role of ZACC in fighting corruption but said it was challenging the search and seizure warrant. The company argued that seizing payroll and employee contracts could not prove the charge of money laundering.
RTG argued that stock exchanges worldwide are designed to be secure investment platforms, regularly audited and overseen by multiple regulatory bodies to ensure transparency and compliance.
RTG pointed out that during the period of interest, its activities had been reviewed by several entities, including the Reserve Bank of Zimbabwe (RBZ) and the National Economic Conduct Inspectorate (NECI), Zimbabwe Revenue Authority (Zimra), Financial Intelligence Unit (FIU) and external auditors.

NSSA Chairman, Emmanuel Fundira, and ex-RTG executive Paula January are accused of trying to take over RTG by lowering its share prices. Fundira, who works at NSSA and African Sun, is said to be causing a drop in RTG's stock price to benefit himself. ZACC is investigating RTG for alleged corruption related to salaries and bonuses. Fundira denies the accusations. RTG disputes the claims and says they are politically motivated. They argue that their activities are reviewed by various regulatory bodies. Paula January also denies any involvement with Fundira and claims that evidence against her is doctored.

NSSA Chairman And Ex-RTG Executive Accused of Plotting Underhand RTG Takeover Bid

Econet Wireless Zimbabwe has dismissed as false a widely circulated social media post claiming the company will deduct funds from EcoCash wallets of customers who use virtual private networks (VPNs) to access free data.
The post, which resembled an official Econet announcement, falsely alleged that the company had detected unauthorized VPN activity and would impose automated deductions to recover data costs.
The image, which appeared to be from Econet’s official X (formerly Twitter) page, was captioned “Scam Alert” and marked “FAKE” by the company, indicating that it was not an official statement. The fake post reads:
<blockquote>
We’ve detected unauthorized VPN activity that’s been compromising our network security and allowing unauthorized access to our data services. 
Unfortunately, this has resulted in some customers using our data for free.
To rectify this situation and ensure fairness for all, we’ll be implementing automated deductions from Ecocash wallets for customers who have been using the offending VPN application.
The deductions will be based on the amount of data used.
Please note that customers who haven’t used the VPN application will not be affected.
</blockquote>

Econet Wireless Zimbabwe says a post saying they will charge money from EcoCash wallets of people who use VPNs for free data is not true. The fake post claimed unauthorized VPN activity would lead to deductions from wallets. Econet marked the post as fake and said it was not official. The post said customers who used VPNs for free data would have money deducted from their wallets based on how much data they used. The company clarified that only people who did not use VPNs would not be affected by the deductions.

Econet Dismisses Viral Post On VPN Data Access Charges

OK Zimbabwe Limited has alerted the public about a fake message circulating on social media that falsely claims to offer jobs at their company.
In a statement, OK Zimbabwe said the advertisement was not legitimate and did not come from them.
The company advised prospective jobseekers that their real job openings are only posted on their official website and LinkedIn page. The statement reads:
<blockquote>
It has come to our attention that a fraudulent message is circulating on social media falsely claiming to offer employment opportunities at OK Zimbabwe Limited.
We would like to take this opportunity to inform the public that this information is not legitimate and did not originate from OK Zimbabwe Limited. We distance ourselves from this communication in its entirety.
As an equal opportunity employer, OK Zimbabwe Limited is committed to fair hiring practices. All legitimate job vacancies will only be posted through our official channels, which include our website 
www.okziminvestor.com and our LinkedIn page OK Zimbabwe Limited (Official Page).
We urge all job seekers to verify any employment opportunities directly through these platforms to avoid falling victim to scams.
We encourage the public to report any suspicious activity related to employment offers purportedly from OK Zimbabwe Limited.
</blockquote>

OK Zimbabwe told people a fake message is online about jobs at their company. They said it's not real. Real job openings are only on their website and LinkedIn. If you see a fake job ad, don't believe it. Check their official channels to be safe. Don't fall for scams. If you see anything suspicious, tell OK Zimbabwe. They want to hire people, but only through the right channels. Be careful about job offers online.

OK Zimbabwe Disowns False Employment Ads Circulating Online

President Emmerson Mnangagwa has reportedly ordered the sale of the People’s Own Savings Bank (POSB) to a consortium led by ZANU PF-supporting cleric Morris Brown Gwedegwe.
According to <a href="https://www.zimlive.com/posb-ordered-to-open-vaults-to-mnangagwas-handpicked-new-investors/">ZimLive</a>, the sale went ahead despite advice from the Zimbabwe Investment and Development Agency (ZIDA), which raised concerns about the source of funds for Gwedegwe’s Hebrew Investment Group.
POSB, now under the Mutapa Investment Fund, is one of several government-owned parastatals being sold off.
Instead of opening the sale to public bids, Mnangagwa, through Attorney General Virginia Mabiza, chose Hebrew Investment Group as the investment partner.
Under the terms of the deal, Hebrew Investment Group will acquire 70% of POSB by contributing US$70 million of the US$100 million needed to recapitalize the bank.
The Zimbabwe government will keep a 10% stake, funded through existing POSB assets, while the remaining 20% will be financed by private individuals.
A joint venture agreement signed between Mabiza and Hebrew Investment Group CEO Professor Emile Kue on December 18, 2024, also includes a US$6 billion loan from Hebrew Investment Group to the Zimbabwe government.
The loan, with a 0.3% interest rate per year, will be repaid over 30 years using dividends from the government’s POSB shareholding.
ZimLive reports that ZIDA questioned the legitimacy of the company’s funds and tried to delay the signing of the agreement, but Mnangagwa and Mabiza pushed it through.
Gwedegwe, a former Anglican bishop who was expelled over alleged embezzlement, was appointed to the Zimbabwe Defence Commission by Mnangagwa in May 2019.
Last year, the Zimbabwe Council of Churches distanced itself from Gwedegwe after he attended the ZANU PF annual conference in Bulawayo, claiming to represent the council.
Questions from ZimLive to Attorney General Mabiza had not been answered at the time of reporting.

President Mnangagwa sold POSB bank to Morris Gwedegwe's group. ZIDA raised concerns about where the money came from. Mnangagwa did not open the sale to public bids. Hebrew Investment Group will own 70% of POSB. The loan from Hebrew Investment Group will be repaid over 30 years. ZIDA questioned where the money came from, but Mnangagwa went ahead with the deal. Gwedegwe was appointed to the Zimbabwe Defence Commission. Council of Churches distanced themselves from Gwedegwe. Attorney General Mabiza did not answer questions about the deal.

Mnangagwa’s Handpicked Investors Take Over POSB

An audacious break-in attempt at Delta Beverages’ Southerton plant was foiled after an employee discovered a tunnel linked to the stormwater drainage system.
The unusual attempt came to light on 17 February 2025, when the employee noticed signs of unauthorized activity beneath the brewery grounds.
Delta Beverages confirmed the incident in a statement, but offered few details on the intruders’ motives or whether they managed to steal anything.
The company assured the public that operations at the plant were not disrupted by the breach. Part of the statement reads:
<blockquote>
Delta Beverages Private Limited, a leading manufacturer of lagers in Zimbabwe, is currently investigating alleged attempt by unknown persons to illegally access premises at Southerton brewery through a pre-existing water storm drainage tunnel.
The incident, which was discovered on 17 February 2025 by Delta Beverages employees, has not caused disruption to our operations.
We are working closely with the police and responsible authorities to determine the veracity of the report and the possible motive and identity of the perpetrators.
We take the safety and security of our employees, facilities, and our assets very seriously.
We are cooperating fully with all responsible authorities involved in the investigation and are conducting our standard incident management and review processes.
We urge anyone with information about this incident to come forward and contact the police or 
our company directly.
</blockquote>

Someone tried to break into Delta Beverages' Southerton plant by digging a tunnel, but they were caught before they could do any harm. The company is investigating the incident with the help of the police. Thankfully, the brewery's operations were not affected by this breach. Delta Beverages wants to ensure the safety and security of their employees and assets, and they are asking for anyone with information about the incident to come forward.

Intruders Dig Tunnel In Bold Attempt To Break Into Delta Beverages' Brewery

Truworths, currently undergoing corporate rescue, along with its subsidiaries, Topic Stores and Bravette Manufacturing Company, is set to hold a crucial shareholder meeting on 25 February in Harare.
Trading of Truworths’ shares was suspended on 7 March 2024 after the company requested a voluntary suspension.
The retailer has been struggling with inflationary pressures and tight liquidity, which have led to reduced demand and declining consumer spending.
As reported by the <a href="https://www.chronicle.co.zw/crucial-shareholder-meeting-for-truworths/">Chronicle</a>, the primary agenda of the meeting will be to implement Section 10 of the corporate rescue plan, which includes the acquisition of shares by Valfin Investments for US$1 and the delisting of Truworths from the Zimbabwe Stock Exchange.
The resignation of the current board and the appointment of a new one will also be discussed.
An update on the approval of Valfin as an investor in Truworths, as well as the potential merger of the two businesses, will be reviewed during the meeting.
Truworths is a well-known retailer offering a wide range of fashion apparel, including clothing, footwear, bags, shoes, perfumes, and homeware products for men, women, teenagers, and children.

Truworths is having a meeting to decide what to do next because they are having money problems. Their shares were stopped from being sold in March 2024 because of this. They want to buy shares from Valfin Investments, and they might also stop being on the stock exchange in Zimbabwe. The current board might leave and a new one could come in. They also want to talk about whether Valfin can invest in Truworths and if they can merge with another company. Truworths sells lots of things like clothes, shoes, bags, and perfumes for everyone in the family.

Truworths To Finalise Corporate Rescue Plan And Delisting At 25 February Meeting

African Sun Limited has announced the sale of the Great Zimbabwe Hotel and its associated hotel business to Mewame Family Trust for a total of US$4.2 million, reported <a href="https://businesstimes.co.zw/african-sun-offloads-great-zimbabwe-hotel-in-us4-2-million-deal/">Business Times</a>.
The deal follows African Sun’s decision in March 2024 to divest select assets, including the Great Zimbabwe Hotel. After months of negotiations, the agreement was finalised on January 28, 2025.
Under the terms of the transaction, Mewame Family Trust will acquire the 20.4-hectare Mundells Plot A property in Masvingo for US$3.2 million. The hotel business and its assets will be purchased as a going concern for US$1 million.
The sale is contingent upon full payment, due diligence, and regulatory approvals, which are expected to be completed by April 1, 2025.
African Sun, which operates ten hotels across Zimbabwe, is strategically divesting non-core assets to fund upgrades at its primary properties.
Meanwhile, Mewame Family Trust, a key player in tourism and property, aims to expand its hospitality portfolio with this acquisition.

African Sun sold the Great Zimbabwe Hotel to Mewame Family Trust for $4.2 million. The sale was part of African Sun's plan to sell some assets. The deal was finalized in January 2025. Mewame Family Trust will get the hotel property for $3.2 million and the hotel business for $1 million. The sale will be completed by April 2025 after payment and approvals. African Sun is selling non-core assets to improve its main hotels. Mewame Family Trust wants to grow its hospitality business by buying the hotel.

African Sun Sells Great Zimbabwe Hotel For US$4.2 Million

OK Zimbabwe Limited experienced a challenging trading environment in the third quarter of 2024, driven by reduced consumer spending, local currency devaluation, and liquidity shortages.
In its trading update for the quarter ending 31 December 2024, released on 14 February 2025, OK Zimbabwe reported stockouts caused by limited supplies and increased operating costs due to frequent power outages, which led to temporary branch closures. Group Company Secretary Margaret Munyuru said:
<blockquote>
The operating environment was largely subdued due to lower-than-expected consumer spend in the quarter under review.
Acute local currency liquidity shortages re-access to the much-needed funding to cover working capital cycles across the formal retail sector.
The local currency unit, ZWG, experienced a sharp devaluation in September 2024 as monetary authorities sought to improve the viability of the exchange rate system for the broader economy.
Invariably, the devaluation had the net nearly doubling existing US dollar-denominated obligations in loans and creditors’ balances.
</blockquote>
During the quarter under review, OK Zimbabwe experienced frequent stockouts, with daily availability levels averaging only 50% of normal stocking levels. Reads the update:
<blockquote>
The Group experienced episodes of stockouts during the quarter under review as evidenced by daily availability levels of around 50% of normal stocking levels stockouts arose from restricted supplies from manufacturers and distributors.
The Group had outstanding and overdue creditors’ balances which were predon denominated in US Dollars against a backdrop of low US Dollar sales collection, at times reaching as low as 20% of sales revenue.
The low stocking levels are a manifestation of sub-economic pricing arising out of exchange rate distortions and suppliers’ need for foreign currency invoicing to cover their operational and raw needs.
Suppliers continued to insist on shorter trading terms and in some cases prepayments for supplies invoiced in local currency.
This exerted pressure on the working capital and necessitated the need to access short-term funding.
</blockquote>
Load shedding negatively impacted the company by disrupting operations and driving up costs, as the business had to rely more on alternative power sources. Said Munyuru:
<blockquote>
Power outages worsened during the trading period resulting in disruptions in business operations and increases in operating costs as the business relied more on alt sources of power.
To mitigate against rising operating costs, the Group resolved to close four branches in Glen Norah, Kuwadzana 5, Chitungwiza Town Centre and Manyika Street, all in Harare.
Review and consideration of the future of branches saddled with the stifling impact of unsustainable operating cost structures and licencing requirements is in progress.
</blockquote>
OK Zimbabwe registered a 36% decline in sales volumes compared to last year, but year-to-date growth of 10%. Reads the update:
<blockquote>
Volumes decreased by 36% in comparison to the same period last year. However, on a year-to-date basis, the Group recorded volume growth of 10% over the same period.
The reduction in volumes recorded during the quarter translated to a decline in revenue of 36% as compared to the prior period.
The company is restocking with supplier support and financial aid while exploring alternative procurement models.
</blockquote>
The company’s future depends on economic stability and policy changes to improve market conditions. Said Manyuru:
<blockquote>
The business has begun restocking the operating units with support from supplier partners as well as financial institutions that continue to assist with short-term structures.
New alternative procurement models have been developed which include, but are not limited to, a structured stock supply arrangement with third p supplier assurance purposes as the business works to restore critical supply relationships with both local and foreign suppliers.
</blockquote>
The Group is confident of restoring stocking levels before the closure of the current financial year.
The fortunes of the country’s formal retail sector are hinged on the stability of our exchange rate regime.
Consultations with both Fiscal and Monetary Authorities have relaxed the very strict policing of applicable in-store exchange rates.
<blockquote>
The Group welcomes the recently announced Monetary Policy Statement measures which number of limitations and introduced some level of flexibility within the foreign exchange market.
However, there is a need for absolute clarity on the roadmap toward a market-determined exchange rate system.
Such a liberalized system will go a long way in restoring the competitiveness of the formal retail sector.
</blockquote>

OK Zimbabwe had a hard time in the third quarter of 2024 because people weren't spending a lot of money and there was a shortage of money. There were not enough supplies, and the currency lost value. The company had to close some branches because of power cuts. Sales went down by 36%, but things were better compared to last year. The company is trying to get back on track by restocking and getting help from suppliers and banks. They hope things will get better by the end of the year. The company is waiting for the government to make some changes to help the economy.

OK Zimbabwe Reports 36% Decline In Sales Volumes For Q3 2024

EcoCash Holdings Zimbabwe Limited (EHZL) has appointed new directors following the resignation of several others.
Eddie Chibi, who has served as CEO since 2018, has stepped down from his position, with Tawanda Nyambirai appointed as his successor.
Nyambirai, a longtime associate of Strive Masiyiwa dating back to the early days of Econet in the 1990s, has extensive experience with the company, both as a lawyer and in business.
Nyambirai acquired Steward Bank, a subsidiary of EcoCash, in 2013.
Darlington Mandivenga, a key figure in the establishment and rapid growth of EcoCash, has also resigned.
Mandivenga played a key role in turning EcoCash into a dominant player in the local payments industry.
In total, 8 directors have resigned, including the chairperson, while 10 new directors have been appointed.
In a notice to shareholders dated 14 February 2025 and signed by Group Company Secretary C.R. Daniels, EcoCash announced that Sherree Gladys Shereni has stepped down as Board Chairperson. The following people have resigned as Directors:
<ul data-end="1489" data-is-last-node="" data-start="1079">
<li data-end="1153" data-start="1079">Sherree Gladys Shereni (Chairperson, Independent Non-Executive Director)</li>
<li data-end="1208" data-start="1154">Zienzile Dillon (Independent Non-Executive Director)</li>
<li data-end="1249" data-start="1209">Hardy Pemhiwa (Non-Executive Director)</li>
<li data-end="1301" data-start="1250">Darlington T. Mandivenga (Non-Executive Director)</li>
<li data-end="1359" data-start="1302">Michael L. Bennett (Independent Non-Executive Director)</li>
<li data-end="1416" data-start="1360">Christopher Maswi (Independent Non-Executive Director)</li>
<li data-end="1451" data-start="1417">Eddie Chibi (Executive Director)</li>
<li data-end="1489" data-is-last-node="" data-start="1452">Theresa Nyemba (Executive Director)</li>
</ul>
EcoCash added:
<blockquote>
The Shareholders, Directors, Management and Staff are grateful for Mrs. Shereni’s contribution and dedication to the Bank during her tenure as Board Chairman.
The Board also acknowledges the service of the departing Directors.
Mr Dominic Musengi and Ms. Elizabeth T Masiyiwa remain as Directors of the EHZL Board.
</blockquote>
The following individuals have been appointed as Directors of EcoCash Holdings Zimbabwe Limited (EHZL), effective from 27 January:
<ul data-end="723" data-is-last-node="" data-start="132">
<li data-end="196" data-start="132">Titus Murefu (Chairperson, Independent Non-Executive Director)</li>
<li data-end="239" data-start="197">Rugare Chidembo (Non-Executive Director)</li>
<li data-end="282" data-start="240">Roy Chimanikire (Non-Executive Director)</li>
<li data-end="338" data-start="283">Nadine Gabi Levy (Independent Non-Executive Director)</li>
<li data-end="395" data-start="339">Evaristo Mudhikwa (Independent Non-Executive Director)</li>
<li data-end="448" data-start="396">Morgen Mufowo (Independent Non-Executive Director)</li>
<li data-end="519" data-start="449">James Andrew Kufakunesu Mushore (Independent Non-Executive Director)</li>
<li data-end="581" data-start="520">David Alexander Rhodes (Independent Non-Executive Director)</li>
<li data-end="653" data-start="582">Tawanda Nyambirai (Group Chief Executive Officer, Executive Director)</li>
<li data-end="723" data-is-last-node="" data-start="654">Hazvinei Kapfunde (Banking Operations Director, Executive Director)</li>
</ul>

Eddie Chibi has resigned as the CEO of EcoCash and Tawanda Nyambirai is the new CEO. Tawanda Nyambirai has a lot of experience with the company. Darlington Mandivenga has also resigned. 8 directors have resigned and 10 new directors have been appointed. The company thanked the departing directors for their service. Some new directors have been appointed to the board. Nyambirai is the new CEO, and other new directors have also been appointed.

Eddie Chibi Resigns, Tawanda Nyambirai Takes Over As EcoCash CEO

The Confederation of Zimbabwe Industries (CZI) has expressed doubts about the central bank’s ability to meet its inflation targets for 2025, following price increases in January.
CZI, in its January inflation and currency developments report for January, noted that while the 2025 National Budget and Monetary Policy Statement (MPS) aimed to keep monthly inflation below 3 per cent through strict fiscal and monetary policies, the high inflation recorded in January 2025 could jeopardize the central bank’s targets. CZI said:
<blockquote>
The elevated ZiG month-on-month inflation rate poses a significant challenge to achieving a low annual ZiG inflation rate by May 2025, when the annual inflation figure will be reported.
</blockquote>
Zimbabwe’s month-on-month inflation for January 2025 surged to approximately 10.5%, marking a 6.8 percentage point increase from the 3.7% recorded in December 2024. Noted the CZI:
<blockquote>
A month-on-month inflation rate of over 10 per cent is significantly high and generally disruptive in the economy as it erodes purchasing power and causes uncertainties, resulting in a loss of confidence in the local currency.
</blockquote>
CZI warned that the high inflation rate for January jeopardized the achievement of the policy target to keep monthly inflation below 5%.
The US dollar-denominated monthly inflation also began the year at a higher rate of approximately 11.5% in January 2025, marking the highest level in the past four years. CZI said:
<blockquote>
In Zimbabwe, US dollar inflation is normally a response to ZiG inflation, as retailers adjust their prices in line with ZiG prices to avoid being accused by the RBZ’s Financial Intelligence Unit (FIU) for using the parallel market rates…
A double-digit US dollar inflation under a highly dollarised environment is a cause for concern, as prices are generally expected to be stable in US dollar terms.
</blockquote>
Presenting the 2025 MPS, Reserve Bank of Zimbabwe Governor John Mushayavanhu said that inflation is expected to maintain a downward trajectory, with month-on-month inflation projected to average below 3% throughout 2025. He added:
<blockquote>
Given the base effects caused by the spike in monthly inflation in October 2024, annual inflation is expected to be elevated from April 2025 to September 2025 before significantly moderating to the end of the year 20-30 percent.
</blockquote>

The CZI is worried the RBZ won't meet 2025 inflation targets as prices increased in January. Inflation was high at 10.5%, up from 3.7% in December 2024, which could hurt the central bank's goals. The US dollar inflation was also high at 11.5%, the highest in four years. CZI said this could cause instability and lack of trust in the local currency. The RBZ Governor still hopes to keep inflation below 3% in 2025, but CZI doubts this due to the high rates seen in January.

CZI Doubts RBZ's Ability To Meet 2025 Inflation Targets

More than 4,000 traders who lost goods worth over US$20 million in the devastating fire at Mbare Musika in October 2024 are frustrated by the government’s failure to deliver on its promise of interest-free loans to help them recover.
<a href="https://www.newzimbabwe.com/government-leaves-over-4000-mbare-fire-victims-high-and-dry-as-interest-free-loans-promise-fails-to-materialise/">NewZimbabwe.com</a> visited the traders in Mbare, where many have resorted to setting up makeshift stalls and tents to keep their businesses running.
One trader, Oscar Mwedzi, said that he had received no assistance from the government despite the promises made. Said Mwedzi:
<blockquote>
We were expecting the government to support us, but we haven’t received anything yet. I came back with a very small stock because I can’t afford to sit at home. My family needs food.
</blockquote>
Another fire victim, Memory Chiguru, said the government only collected their details days after the fire, then disappeared, leaving them stranded. As a result, they had no choice but to turn to well-wishers for help.. She said:
<blockquote>
Our names were taken down two days after the fire. They asked us about our families, dependents, and the value of the goods that were burnt.
But since then, no support has come our way. As for me personally, I took out a loan from the bank to restart my business. A few relatives helped me.
</blockquote>
Farai Hokonya, Deputy Director of the Civil Protection Unit (CPU), told NewZimbabwe.com that government officials are scheduled to tour the new market this week and will provide an update at that time.
In the meantime, traders have raised concerns over the registration and allocation of vending stalls, particularly after a controversial list was released through a state-owned newspaper last month.
The list contained numerous errors, and there are allegations that it is heavily skewed in favour of ZANU PF supporters, many of whom were not affected by the October fire that devastated the market.
Denford Ngadziore, chairperson of the City of Harare’s Small and Medium Enterprise Committee, said that the responsibility to allocate vending spaces at the new Mbare Musika Market lies with the council, not the government.
Ngadziore further explained that while the new market is a joint project between the council and the government, it is the council’s responsibility to allocate spaces.
He stressed that any allocation by others would be illegal, and priority would be given to traders who lost goods in the fire last year.

Over 4,000 traders lost goods in a fire at Mbare Musika. The government promised interest-free loans to help them but has not delivered. Many traders are struggling to restart their businesses. The government collected their details but did not help. Traders are setting up makeshift stalls to keep going. There are concerns about unfair allocation of vending stalls. The responsibility for allocation lies with the council, not the government. Traders are waiting for an update from government officials on the situation.

Government's Failure To Provide Interest-Free Loans Leaves Mbare Musika Traders In Limbo

The Reserve Bank of Zimbabwe (RBZ) has stepped in to address concerns over discriminatory pricing by mobile network operators and internet service providers.
In the 2025 Monetary Policy Statement, RBZ Governor John Mushayavanhu said that operators are accused of favouring USD transactions over Zimbabwean dollars (ZiG). For instance, they offer internet data promotions only in USD, not ZiG. Said Mushayavanhu:
<blockquote>
The Reserve Bank has received complaints from stakeholders during the consultative meetings alleging that some mobile money operators are applying discriminatory pricing practices against ZiG in preference for USD transactions.
For instance, promotions for internet data packages are only available in US dollars and not in ZiG.
The Reserve Bank has since engaged the regulatory authority, the Postal and Telecommunications Regulatory Authority of Zimbabwe (POTRAZ), and the Telecommunications Operators Association of Zimbabwe (TOAZ).
The Reserve Bank, through the Financial Intelligence Unit (FIU), will continue to monitor adherence to this requirement by TOAZ members.
</blockquote>
The central bank governor added that industry players have agreed to adjust their pricing structures, allowing customers to purchase internet data packages using their preferred currency.

The Reserve Bank of Zimbabwe is making sure internet prices are fair for everyone. Some companies were only offering discounts in USD, not Zimbabwean dollars. The RBZ governor said this was unfair. The bank is now working with regulators and companies to fix this. They want to make sure people can buy internet data in any currency they want. The companies have agreed to change their prices to make things more fair for everyone. The RBZ will keep an eye on this to make sure it stays fair.

RBZ Orders Fairer Pricing For Internet Data Packages

The Reserve Bank of Zimbabwe (RBZ) has raised concerns about a growing trend in which millions of dollars are sitting idle in cash deposit boxes across the country, warning that this practice is depriving the economy of vital liquidity.
In his 2025 Monetary Policy Statement released last Thursday, RBZ Governor John Mushayavanhu the keeping of cash in cash deposit boxes is hindering economic growth by restricting the flow of much-needed capital within the economy.
He said the Financial Intelligence Unit of the Reserve Bank will not tolerate this malpractice and will take decisive action to address the situation. Said Mushayavanhu:
<blockquote>
The Reserve Bank has noted with concern the increasing abuse of safe deposit boxes and the proliferation of “shadow banks”.
It has been observed that some businesses are not banking all or most of their cash receipts and are, instead, keeping such cash in safe deposit boxes held with financial institutions and security companies.
This trend is not only a violation of the Bank Use Promotion and Suppression of Money Laundering Act [Chapter 24:24] which requires businesses to bank all their cash receipts, but it also promotes tax evasion and money laundering.
The Reserve Bank is working with the Financial Intelligence Unit and other Law Enforcement Agencies to curtail such practices and encourage the use of normal banking channels, in line with the Bank Use Promotion and Suppression of Money Laundering Act [Chapter 24:24].
</blockquote>
Many Zimbabweans, both individuals and businesses, prefer to keep their money in safe deposit boxes rather than in banks for several reasons, including a lack of trust in financial institutions, frequent regulatory changes, and the growing prevalence of a cash-based economy.
The country’s economic instability and past experiences have led some to question the banking system’s ability to protect their funds, resulting in a lack of confidence in traditional banking channels.
Zimbabwe’s largely multicurrency system, with cash being the primary method of transaction, has made it easier for people to store cash in safe boxes, as it aligns with the daily needs of individuals and businesses.

The RBZ in Zimbabwe is worried that lots of money is kept in cash boxes instead of banks, which is not good for the economy. Businesses are not putting their cash receipts in banks like they should, which is against the law and promotes bad things like tax evasion. The RBZ is working to stop this and encourage businesses to use banks. People don't trust banks in Zimbabwe because of past problems, so they keep cash in boxes instead. The country uses a lot of cash for transactions, which makes keeping money in boxes easier and more convenient for everyone.

RBZ Targets Businesses "Abusing" Cash Deposit Boxes

The industry and commerce sectors in Zimbabwe have once again called for government intervention as more companies are forced to shut down due to the country’s struggling economy.
The formal retail sector continues to face major challenges, including high inflation, foreign currency shortages, and growing competition from informal traders.
In an interview with <a href="https://www.newsday.co.zw/local-news/article/200038004/industry-pleads-for-govt-intervention-as-more-companies-shut-down">NewsDay</a> this week, Zimbabwe National Chamber of Commerce (ZNCC) president Tapiwa Karoro said that the 5% withholding tax on non-registered micro, small, and medium enterprises (MSMEs) has discouraged informal traders from engaging with formal wholesalers, leading many transactions to move further underground. Said Karoro:
<blockquote>
This has resulted in low tax compliance, reduced productivity, constrained investment and limited access to social security benefits.
While the 5% withholding tax on non-registered MSMEs [micro, small and medium enterprises] measure seeks to enforce tax compliance, it has inadvertently discouraged informal traders from engaging with formal wholesalers, thereby pushing more transactions underground.
</blockquote>
Karoro has urged the government to introduce a graduated tax structure with lower initial rates to encourage voluntary registration among businesses.
He asserted that formalising the economy is vital for sustainable economic growth, increased tax revenue, improved business productivity, and greater investor confidence.
He further stressed that a combination of incentives, regulatory reforms, enforcement mechanisms, and digital transformation would be key to fostering a balanced and inclusive economic environment.
Meanwhile, the Consumer Council of Zimbabwe (CCZ) has expressed concern over the ongoing closure of formal retailers.
In a statement this week, the CCZ cited unfair competition from informal traders as a factor factor driving this trend.
The council also voiced its worries about the continued shutdown of formal retailers and wholesalers.

The industry and commerce sectors in Zimbabwe want the government to help as more companies are closing due to economic problems. Retail stores have issues like high prices, lack of foreign money, and competition from informal sellers. The Zimbabwe National Chamber of Commerce wants the government to change the tax rules to help small businesses. They think following the rules can make the economy better. Also, the Consumer Council is worried about stores closing because of competition from informal sellers. They want the government to help keep formal stores open.

Industry And Commerce Sectors Call For Government Intervention As Companies Close

The Zimbabwe Revenue Authority (ZIMRA) has addressed frequently asked questions regarding the submission of PAYE returns through the Employee Management Module.
Key points include the need for employers to update permissions/roles in the TaRMS system, the retention of existing TINs for employees, and the inability of payroll administrators to make tax payments on behalf of clients.
Other topics covered are the processing of midyear hires, registration of employees without IDs, assignment of different individuals for uploading earnings, and the choice between averaging and forecasting calculation methods:
Q: Should the current permissions/roles in TaRMS be updated?
A: Yes, the Employer through the Public Officer should reassign permissions/roles to allow those given the permissions to access the Employee Management Module and the PAYE Return. Therefore, the employer can manage who has access to the PAYE return (containing only PAYE and AIDS Levy amounts) and also who will have access to the detailed earnings.
Q: What happens when an employee already has a TIN?
A: Upon registration by the employer in the system the employee retains the existing TIN.
Q: Is it possible for Payroll administrators to pay tax due on behalf of their clients?
A: The Single Account concept makes this impossible. The taxpayer is the only one who can make payments through the bank that is linked with the Taxpayer’s TIN.
Q: How do we process the earnings of an employee who has joined midyear?
A: The employee is added and earnings are created for the Non-FDS case, the employee will then submit an ITF 1 after the end of the year of Assessment.
Q: Can an employee be registered multiple times with different employers?
A: Yes, it is possible but the employee retains the same TIN generated on initial registration.
Q: What happens to the registration of employees without IDs?
A: The system has no provision for such. Employers are advised to encourage their employees to acquire National IDs.
Q: Is it possible to assign different individuals to upload earnings for different employees on different levels e.g. Executive, Management and lower-level employees for the same company?
A: Yes, it’s possible through the Assignee Management module, the end result is that the PAYE and Aids Levy computed by the different Assignees will accumulate on the same PAYE return for the respective tax period.
Q: Can the employer see the calculations or tax payable on the PAYE template before uploading?
A: No, on the PAYE template the tax payable cannot be seen. It can only be viewed after uploading the PAYE Template.
Q: Which method of calculation are we supposed to choose between Averaging and Forecasting?
A: One can choose either of the two methods of calculation. However, you cannot switch within one tax year. Both methods give the same result at the end of the year.
Q: Do you register casual labour on employee management?
A: Yes, they are registered. All employees should be registered.
Q: Can we remove an employee when the employee is terminated from employment?
A: No, an employee cannot be removed but the employer can capture the end date on the employee’s details under the Employee Management module.
Q: How does the system grant credits?
A: When registering the employee, one must declare marital status, whether blind or not, physical disabilities of the employee and their children and the date of birth of the employee in order for the system to automatically grant tax credits accruing to that employee. Other tax credits such as medical aid and medical expenses credits will be captured as the employer declares the employee’s earnings.
Q: Which template should we use to upload the earnings?
A: Download the template that is in the system.

ZIMRA explains new rules for submitting PAYE returns. Employers need to update roles in the system. Employees keep the same TIN even if they switch jobs. Payroll admins can't pay taxes for clients. New employees added mid-year need to submit ITF 1 after year ends. Employees without IDs should get one. Different people can upload earnings for different employees. Employers can't see tax calculations before uploading. Choose between Averaging and Forecasting for calculations. Casual laborers should also be registered. Employees can't be removed when terminated, but end date can be added. System grants credits based on employee info like marital status and disabilities. Use the system's template to upload earnings.

ZIMRA Explains New PAYE Return Submission Procedures In Detailed FAQ Response

Botha Gold Mine, a gold mining company in Bindura, Mashonaland Central Province, has accused certain people of attempting a hostile takeover using fraudulent court orders.
In a statement released on February 6, 2025, the company said that the fraudulent court orders, HCH4802/24 and HCH4255/24, were obtained by a group of minority shareholders.
These orders have been overturned by High Court judge, Siyabona Paul Musithu under HCH5865/24, and any actions based on them are now invalid. Part of the statement reads:
<blockquote>
This development nullifies any claims or actions taken pursuant to the fraudulent order. In light of this, we hereby notify the public that the miscreant minority shareholders, who recently attempted to illegitimately seize control of the company, are not directors and do not represent Side Electrical (Pvt) Ltd. or Botha Gold Mine in any platform. The public is warned.
</blockquote>
Botha Gold Mine made it clear that the persons behind the fraud—Munyaradzi Nzarayapenga, Leonard Rwambiwa, Dudzai Ruzvidzo Kajokoto, Ashley Ziyarura Zulu, Simbarashe Nzenza, and Tendai Chinyani—are not directors or representatives of the company.
The company has reported the fraud to the Zimbabwe Republic Police, and the perpetrators will face legal action.
Botha Gold Mine also said the suspensions linked to the fraudulent court order are not valid, adding that the current management team, led by General Manager Angela Mpofu-Chisvo, remains in control of the company.
The company apologized to anyone wrongfully accused during the situation, particularly to Themba Hlongwani and Angela Mpofu-Chisvo, who were accused of financial wrongdoing.
The company confirmed that these accusations were part of a plot by the fraudulent shareholders to take over the business. It said:
<blockquote>
Furthermore, the alleged suspensions mischievously issued in connection with the fraudulent court order remain null and void.
The Executive Management team, led by General Manager Mrs. Angela Mpofu-Chisvo, remains in place and continues to manage the affairs of Botha Gold Mine.
We take this opportunity to sincerely apologise to all innocent individuals who may have been maliciously slandered during this debacle.
We particularly apologise to Mr. Themba Hlongwani and Mrs. Angela Mpofu-Chisvo, who were wrongly accused of misappropriating funds and concealing information as part of the decoy that was created by the fraudsters in order to gain credence in the public domain.
We put the record straight that no such incident occurred, and the malicious accusations were perpetrated by devious minority shareholders in a bid to illegitimately acquire control of the company.
</blockquote>
Botha Gold Mine has warned that it will not accept or honour any agreements, contracts, or transactions made by the individuals mentioned earlier.
The company also said that it completely distances itself from any actions or representations made by these individuals or anyone claiming to represent them, unless they are part of the authorised Executive Management team. The statement reads:
<blockquote>
The public is warned to exercise caution and not engage in any business transactions with these individuals, as Botha Gold Mine will not be held liable for any consequences arising from such dealings.
</blockquote>

Botha Gold Mine, a gold mining company in Zimbabwe, says some shareholders tried to take over the company with fake court orders. The company says the orders were fraud and have been overturned by a judge. The people behind the fraud are not directors or representatives of the company. The company's management team is still in control. The company apologized to innocent people accused in this situation. Botha Gold Mine warns people not to do any business with the individuals behind the fraud. They will not honor any agreements made by them.

Botha Gold Mine Accuses Minority Shareholders Of Attempted Hostile Takeover With Fake Court Orders

Econet Wireless Zimbabwe said that it has resolved network issues that affected some customers’ ability to make calls, use mobile data services, or transact using EcoCash between 2 PM and 3:30 PM on Wednesday, 5 February 2025.
In a statement issued later on Wednesday, the company confirmed that all services had been fully restored. It said:
<blockquote>
We experienced some issues on the platforms that enable our subscribers to make calls, use data or carry out EcoCash transactions, resulting in some of our customers being unable to use the services for about an hour and half, starting around 2pm to 3:30pm today (February 5, 2025).
We are pleased to advise that the challenges have since been successfully resolved, and all services have been fully restored.
We sincerely apologise for the inconvenience this may have caused our valued customers.
</blockquote>

Econet Wireless Zimbabwe had some problems with their network that stopped some customers from making calls, using data, or using EcoCash on February 5, 2025, between 2 PM and 3:30 PM. They fixed the issues and all services are working again. The company apologized for any inconvenience this may have caused to their customers.

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